Ashok Kumar Lahiri quits as part-time chairman of Bandhan Bank

Dr. Ashok Kumar Lahiri has quit as the board of Bandhan Bank.He was an independent director (non-executive part-time chairman) of the Bandhan Bank.

He ceased to hold office as the independent director (non-executive part time chairman) of the bank with effect from the close of business hours on Monday i.e. April 9, 2018.

“This, as he has explained, is because of the difficulties that he is facing in discharging his duties satisfactorily as Member, Fifteenth Finance Commission, and Chairman, Bandhan Bank, simultaneously,'' said a release from the bank.

Mr. Lahiri's decision comes on a day when private sector banks came under intense public glare. Earlier in the day, global rating agency Fitch took note of the unfolding developments in ICICI Bank and sent out a caution. The rating agency felt that the allegations surrounding the top leadership could erode the reputation of ICICI Bank.

Later in the evening, the board of Axis Bank had shortened the extended tenure it had given earlier to its chief executive Shikha Sharma. The board had taken the decision based on the request made by Ms. Sharma, who too has come under scrutiny for the mounting non-performing assets of the bank under her stewardship.

The CEO of ICICI Bank Chanda Kochar is in the news for all wrong reasons. The bank has been under investigation for the loan extended to the Videocon group. Allegations have been flying thick and fast on a possible quid pro quo in the loan dealing with the Videocon group.

Late in the evening. private home loan provider HDFC increased its retail prime lending rate, on which its retail adjustable rate home loans is bench-marked, by 20 basis points from April 1.

All in all, it was an eventful day for the private lenders.